The S&P 500 is offering a yield of only 1.35%. In my best possible Chandler impression, "Could that yield be any lower?" That said, there are a lot of individual stocks within the stock market offering yields way higher than this. And you don't have to go buy junky stocks in order to get your hands on some of that income. No, there are actually some stocks that offer quality and yield. These stocks don't just have high yields, by the way. These are dividend growth stocks that are growing their dividends year in and year out. So you get a lot of income today. And you get that growth in your income that allows you to keep up with inflation and retain your purchasing power. Now, many of the higher-yielding dividend growth stocks out there are very popular and well-known. However, some of these stocks fly way under the radar. And that could be your opportunity.

Today, I want to tell you about three under-the-radar dividend growth stocks offering yields of between 5% and 7%. Ready? Let's dig in.

The first under-the-radar high-yield dividend growth stock I want to tell you about is Iron Mountain Inc. (IRM). Iron Mountain is a real estate investment trust that specializes in physical and digital data protection and management. They're also not messing around with income - the stock yields 5.7%. Almost nobody talks about this stock, but it might finally be on investors' radar. I say that because the stock is up a whopping 51.5% YTD. Despite this massive run, though, the stock is still not all that expensive when you compare it up against the market or your typical REIT. The P/CF ratio is only at 13.4 right now. That's well below the broader market's cash flow multiple. And if you compare that up against a lot of other REITs, it's extremely low. Take Digital Realty Trust, Inc. (DLR) for example. They're in the digital data real estate niche that Iron Mountain is moving toward. Digital Realty's P/CF ratio is at 24.1 right now, which is almost twice as high as Iron Mountain's. Iron Mountain could be set for an even higher run, especially with the possibility of a positive rerating on its increasing digital presence.

The second under-the-radar high-yield dividend growth stock I want to highlight is Omega Healthcare Investors Inc. (OHI). Omega Healthcare Investors is a triple-net real estate investment trust that primarily invests in skilled nursing facilities and assisted living facilities. This stock yields a market-crushing 7.2%. That's more than five times that of the S&P 500's yield - and it's the highest in today's video. If you want serious yield and you don't have time to wait for dividend raises to compound for you, Omega Healthcare is kind of like a "dividend time machine" that fast forwards the whole income compounding process. It's not the kind of long-term compounder that, say, Apple Inc. (AAPL) is, but it'll get the income job done for sure. Not just income, either. Omega has increased its dividend for 18 consecutive years, with a 10-year dividend growth rate of 6.1%. Recent dividend increases have been meager, but any dividend increase at all is pretty nice when you're getting a 7%+ yield. This stock has been a laggard YTD, up only 6.5%. The valuation looks very reasonable.

Last but not least, let's talk about the under-the-radar high-yield dividend growth stock that is ONEOK, Inc. (OKE). ONEOK is an American midstream energy company and owner of one of the country's premier natural gas liquids systems. There are a lot of options in the midstream space, but ONEOK flies way under the radar. I don't see it mentioned nearly as much as other players in the midstream space. To be fair, it's not as large as some competitors. Its market cap is under $25 billion. Still, it's a very large company. Know what else is large? Its dividend. ONEOK yields a mammoth 7%. Actually, this stock shouldn't only be on your radar. It should perhaps be in your portfolio.

Video Length: 00:09:22